Tag Archives: finance

The Effects of Big Data on Commercial Banks 

By | December 5, 2022

The past decade has witnessed a revolution in the use of massive amounts of data for businesses’ decision-making. According to a report by Forbes, there were 2.5 quintillion bytes of data created each day in 2018. Most of the time, the volume of data is too great for people to handle. Thanks to the advancement… Read More »

Forecasting the How and Why of Corporate Crime’s Demise 

By | December 2, 2022

How would our world function if corporate criminal liability ceased to exist? This was the provocative question posed to the participants in the Journal of Corporation Law’s recently published symposium issue on corporate crime. Several of my colleagues argue for or against corporate crime’s end or survey the aftermath of such an implosion. My contribution… Read More »

The Corporate Design of Investments in Startups: A European Experience 

By | December 1, 2022

In our new paper, we conducted extensive empirical research on more than 5,000 corporate charters of new Italian companies. We aimed to test whether the law reforms of 2012-2017, mainly addressed at the LLC/GmbH-type, were successful in making Italian corporate law more amicable towards startups and venture capital contracting techniques. Our article is part of… Read More »

Sovereign Wealth Fund Investment in Venture Capital, Private Equity, and Real Asset Funds

By | November 30, 2022

In a new paper, we show with a large sample of international data that sovereign wealth funds (SWFs) earn lower returns and are slower to fully liquidate their positions relative to other types of institutional investors. The data comprise 538 SWF investments in venture capital, private equity, and real asset funds from 52 countries from… Read More »

Toxic Emissions and Corporate Green Innovation 

By | November 29, 2022

One negative consequences of industrialization has been the generation and release of toxic chemicals, which have detrimental effects on the environment, climate, and public health. As the world grapples with environmental and climate change challenges, these byproducts are becoming an important issue drawing the attention of investors, scholars, and governments. For instance, toxic emissions are… Read More »

Reasons and Consequences of Cross-Border Mergers and Acquisitions

By | November 24, 2022

One of the most consequential events in any firm’s lifetime is a major acquisition. Because of their importance, mergers and acquisitions (M&A) have been researched extensively. The vast majority of research and survey papers have focused on domestic deals. However, cross-border M&A constitutes about 30% of the total number and 37% of the total volume… Read More »

The Value of Privacy and the Choice of Limited Partners by Venture Capitalists

By | November 23, 2022

Venture capital (VC) firms are notoriously secretive. In a recent paper, we examined the causes and consequences of that preference for secrecy using late-2002 court rulings that forced some of the largest public limited partners (LPs) who invest in VC funds to disclose formerly confidential return information. We show that in response to these rulings,… Read More »

Trust in Fintech and trust in Insurtech are influenced by Artificial Intelligence 

By | November 11, 2022

New Fintech and Insurtech services are popular with consumers as they offer convenience, new capabilities and in some cases lower prices. Consumers like these technologies but do they trust them? The role of consumer trust in the adoption of these new technologies is not entirely understood. From the consumer’s perspective, there are some concerns due… Read More »

The Information Content of Mandatory Human Capital Disclosures—Initial Evidence

By | November 7, 2022

Do the recently mandated human capital disclosures (HCDs) have value implications for asset prices, and if so, do they affect shareholders and debtholders in the same way?   Our recent study examines the information content of newly mandated HCDs for shareholders and debtholders. Importantly, we show that firms’ HCDs are not purely boilerplate and convey information… Read More »

The Role of Venture Capital Firms in Startup Mergers and Acquisitions 

By | November 3, 2022

Disagreement about firm value between potential buyers and sellers is particularly prevalent in private startups’ mergers and acquisitions (M&As). Startups are generally uncertain about their future performance and lack a robust financial track record. In M&A transactions, sellers often have more and better information (e.g., detailed information about the startup’s products and product markets) to… Read More »